Cardano’s digital currency ADA has attracted attention with a 12% increase in the last 24 hours. ADA has reached its highest value in the last three weeks, exceeding the $1 level. This increase was in contrast to the movements of less than 2% in leading cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and Dogecoin (DOGE). Cardano’s rapid rise has increased the interest of investors.
While ADA’s recent surge is not based on a clear underlying reason, it seems that the expected developments in the short term have positive effects. The growth of the Bitcoin-focused decentralized finance ecosystem and efforts to increase the network’s scalability and performance are among the main factors supporting this rise. In addition, steps to facilitate Cardano’s integration with different blockchain networks could trigger a long-term increase in value.
Experts are focusing on the positive trend in ADA’s technical indicators. Crypto analyst Omkar Godbole noted that ADA’s recent three-day uptrend has broken its four-week downtrend. This change suggests that the peak at $1.32 could be retested. Indicators such as the Moving Average Convergence Divergence (MACD) and the RSI are giving strong signals that the price could rise further.
Technical indicators suggest that ADA has the potential to increase in value by up to 30%. The rising MACD shows strong momentum, while the RSI also confirms the momentum in price action. Analysts say that bigger gains are possible after ADA breaks the resistance level at $1.32.
Cardano’s ADA coin is drawing a promising picture for investors with the current technical data and developments on the network. Whether this rise will continue is being watched with great attention in the crypto market.
